Weatherford International (NASDAQ:WFRD) Price Target Increased to $135.00 by Analysts at Bank of America

Weatherford International (NASDAQ:WFRD) had its target price raised by Bank of America from $123.00 to $135.00 in a research report issued on Monday, Benzinga reports. The firm currently has a “buy” rating on the stock. Bank of America‘s target price suggests a potential upside of 18.72% from the stock’s previous close.

A number of other equities analysts have also recently weighed in on the company. Barclays initiated coverage on Weatherford International in a report on Wednesday, February 28th. They set an “overweight” rating and a $135.00 price objective on the stock. TheStreet raised Weatherford International from a “c” rating to a “b” rating in a research note on Monday, March 11th. Piper Sandler lifted their price target on Weatherford International from $138.00 to $180.00 and gave the stock an “overweight” rating in a research note on Monday, April 8th. Finally, Benchmark lifted their price target on Weatherford International from $115.00 to $155.00 and gave the stock a “buy” rating in a research note on Monday, April 1st. Seven analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $131.00.

Weatherford International Stock Performance

Shares of NASDAQ WFRD opened at $113.71 on Monday. The stock has a market cap of $8.22 billion, a price-to-earnings ratio of 20.13 and a beta of 0.73. The company has a current ratio of 1.79, a quick ratio of 1.37 and a debt-to-equity ratio of 1.86. Weatherford International has a 1-year low of $55.81 and a 1-year high of $127.45. The stock’s 50-day moving average is $110.68 and its 200 day moving average is $99.25.

Weatherford International (NASDAQ:WFRD) last announced its quarterly earnings data on Tuesday, February 6th. The company reported $1.90 earnings per share for the quarter, beating analysts’ consensus estimates of $1.42 by $0.48. The company had revenue of $1.36 billion for the quarter, compared to analysts’ expectations of $1.34 billion. Weatherford International had a return on equity of 56.68% and a net margin of 8.12%. Weatherford International’s revenue for the quarter was up 12.7% compared to the same quarter last year. During the same period last year, the firm posted $1.12 EPS. On average, sell-side analysts anticipate that Weatherford International will post 6.74 EPS for the current fiscal year.

Insider Transactions at Weatherford International

In other news, CAO Desmond J. Mills sold 11,000 shares of Weatherford International stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $98.04, for a total value of $1,078,440.00. Following the sale, the chief accounting officer now directly owns 18,211 shares in the company, valued at approximately $1,785,406.44. The sale was disclosed in a filing with the SEC, which is available through this link. In other Weatherford International news, CEO Girish Saligram sold 60,000 shares of the business’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $103.57, for a total value of $6,214,200.00. Following the sale, the chief executive officer now directly owns 146,895 shares of the company’s stock, valued at $15,213,915.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Desmond J. Mills sold 11,000 shares of the business’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $98.04, for a total value of $1,078,440.00. Following the completion of the sale, the chief accounting officer now directly owns 18,211 shares in the company, valued at $1,785,406.44. The disclosure for this sale can be found here. In the last three months, insiders have sold 135,455 shares of company stock worth $13,628,764. 2.20% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Weatherford International

Several hedge funds have recently added to or reduced their stakes in WFRD. Geneos Wealth Management Inc. bought a new stake in Weatherford International in the first quarter worth $25,000. Point72 Hong Kong Ltd purchased a new position in shares of Weatherford International in the second quarter worth $25,000. McGlone Suttner Wealth Management Inc. purchased a new position in shares of Weatherford International in the fourth quarter worth $27,000. Quarry LP purchased a new position in shares of Weatherford International in the first quarter worth $28,000. Finally, Parallel Advisors LLC raised its stake in shares of Weatherford International by 189.0% in the fourth quarter. Parallel Advisors LLC now owns 289 shares of the company’s stock worth $28,000 after purchasing an additional 189 shares during the last quarter. 97.23% of the stock is owned by institutional investors.

About Weatherford International

Weatherford International plc, an energy services company, provides equipment and services for the drilling, evaluation, completion, production, and intervention of oil, geothermal, and natural gas wells worldwide. The company operates through three segments: Drilling and Evaluation; Well Construction and Completions; and Production and Intervention.